Canada Mobile Payments

76.3 million Visa and MasterCard cards are in circulation in Canada. **CBA credit card statistics as of October 2013

A study by IHS Global Insight1 found that electronic payments have contributed $196 billion to the Canadian economic growth in the last 25 years.

94% of Canadians have a debit card to use at retailers or at ABMs to make transactions

96% of Canadians aged 18 and over have a savings, chequing or other account with a financial institution that they can use to write cheques, pay bills or transfer money.

94% of Canadians have a debit card to use at retailers or at ABMs to make transactions.

92% of Canadians have at least one major credit card.

46% of Canadians use online bill payment as their primary tool for paying bills.

The use of new payment methods is growing substantially.

Online payment provider PayPal indicates that it now has more than four million users in Canada.

75 per cent of Canadians have said that they were unable to pay for something because they didn’t have cash with them (as cash was the only payment method accepted); an indication that Canadian consumers are more than keen to move to a digital payment environment.7

Canadians are among the biggest users of debit cards in the world, with only residents of Sweden, the United States and the Netherlands doing more transactions per person.

Debit cards are accepted by more than 450,000 retailers in Canada, and more than four billion transactions were done using the Interac® network in 2012.

Canadians Use Credit Cards

In 2011, the total value of cash transactions was estimated at just over $100 billion, with an average transaction value of $18.

In 2011, the value of POS transactions for debit cards reached $180 billion, with an average transaction value of $44, while the total value for credit card transactions was more than $300 billion, with an average transaction value of just over $100

In 2010, 89 per cent of Canadians used credit cards to pay for online purchases (Statistics Canada 2011b).

Effective February 1, 2014, the Interac Association member fee charged to participating Members for the Interac Debit service is $0.006362 per transaction.

Protected by US patent application 62/013,349 Trade-mark Application No. 1693363. United States Provisional Patent Application No. 62/072,142. Canada Mobile Payments name and logo are trademarks of CDN Mobile Payments Corp. Sitemap The Interac name and logo are trademarks of Interac Inc. Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. The Visa and MasterCard logos are trademarks of Visa International and MasterCard International Incorporated. Canada Mobile Payments is a pending registered MSP of Canada. New applicants are subject to conditions and approval of the application by Canada Mobile Payments and its partners.